By Phil Kabler, Charleston Gazette-Mail
CHARLESTON, W.Va. — West Virginia tax collection in April topped estimates by a fraction of a percent, a notable accomplishment, considering the deadline for filing state income taxes was pushed back from April 15 to May 17.
April’s general revenue collection of $539.76 million topped estimates by $1.89 million, even as the income tax filing delay caused personal income tax collection of $241 million to fall $81.19 million short of projections.
An upturn in consumer sales tax collection — fueled by $1,400 federal stimulus checks that went out to most West Virginians in March — helped make up some of the slack, with $126.08 million of sales tax collection topping estimates by $22.28 million.
Corporate net taxes also far exceeded estimates, with $63.34 million of collection exceeding estimates by $40.84 million.
Severance tax collection, which has underperformed in recent years as coal production and natural gas prices have waned, topped expectations in April, with $29.06 million of collection exceeding estimates by $14.16 million…
To read more: https://www.wvgazettemail.com/news/even-with-tax-deadline-pushed-back-to-may-wvs-april-tax-collection-tops-estimates/article_2bf39c07-f152-558a-90cf-ec2181d8b10a.html